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Canada Banking Consumer Habits 2024

Gen Z Is Crowdsourcing Its Banking Research

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About This Report
Gen Zers’ habits diverge from other generations’ in the early stages of the customer journey. Our inaugural survey of banking consumers in Canada spotlights the differences to help banks drive conversions.
Table of Contents

Gen Zers are banks’ richest source of customer acquisition, but their customer journey is shaped much more by crowdsourced information than other generations’. Our inaugural survey of 1,598 banking consumers in Canada spotlights Gen Zers’ unique behaviors to help banks drive conversions.

Key Question: What are the differences between Canada Gen Zers and other generations when it comes to product discovery and consideration?

Key Stat: Banks are losing the fight for influence over Gen Zers on social media. Just 27.3% called bank-generated content the most trusted source of banking information, while 60.6% cited customer-generated content.

Here’s what’s in the full report

4files

Exportable files for easy reading, analysis and sharing.

11charts

Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. Gen Z is reshaping the early stages of the customer journey
  3. Mobile and web take the lead in building Gen Zers’ awareness—but email is holding its own
  1. User-generated content is shaping Gen Zers’ consideration stage
  2. Gen Z sticks to the status quo when it comes to actually buying banking products
  3. Methodology
  1. Survey Demographics
  2. Media Gallery

authors

Maria Elm

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Tiffani Montez
Principal Analyst, Banking
Jennifer Pearson
VP, Research
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